WATERBURY, Conn., April 26, 2011 /PRNewswire/ -- Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., announced today that its Board of Directors had declared a quarterly cash dividend of $.05 on its common stock, an increase from the previous $.01 per share.
James C. Smith, Webster's chairman and chief executive officer, said, "Giving consideration to Webster's strong capital position and consistently improving operating performance, the Board is pleased to announce an increase in the cash dividend. The board will consider further increases in the dividend based on future performance and capital needs."
Webster recently reported first quarter earnings of $33.5 million or $.36 per diluted share.
The dividend on the common shares will be payable on May 23, 2011, to shareholders of record on May 9, 2011.
Webster also declared a regular quarterly cash dividend of $21.25 per share on its 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock, payable on June 15, 2011, to shareholders of record on June 1, 2011.
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $18 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 176 banking offices, 488 ATMs, telephone banking, mobile banking, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.
SOURCE Webster Financial Corporation